Seacoast Banking Co. of Florida (NASDAQ:SBCF) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have been assigned an average rating of “Moderate Buy” from the four analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $29.88.

Several research analysts have weighed in on SBCF shares. Truist Financial upped their target price on Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Hovde Group lowered Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $29.00 to $31.00 in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, Director Dennis S. Hudson III sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $27.00, for a total value of $432,000.00. Following the sale, the director now owns 234,312 shares of the company’s stock, valued at approximately $6,326,424. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Institutional Trading of Seacoast Banking Co. of Florida

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Seacoast Banking Co. of Florida by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 6,285,087 shares of the financial services provider’s stock worth $159,578,000 after acquiring an additional 254,887 shares during the period. Westwood Holdings Group Inc. lifted its position in shares of Seacoast Banking Co. of Florida by 2.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 3,210,657 shares of the financial services provider’s stock worth $75,900,000 after acquiring an additional 88,757 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Seacoast Banking Co. of Florida by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,001,292 shares of the financial services provider’s stock worth $70,949,000 after acquiring an additional 27,287 shares during the period. Deprince Race & Zollo Inc. lifted its position in shares of Seacoast Banking Co. of Florida by 4.7% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,689,888 shares of the financial services provider’s stock worth $39,949,000 after acquiring an additional 76,001 shares during the period. Finally, William Blair Investment Management LLC lifted its position in shares of Seacoast Banking Co. of Florida by 24.0% in the 1st quarter. William Blair Investment Management LLC now owns 1,170,146 shares of the financial services provider’s stock worth $29,710,000 after acquiring an additional 226,132 shares during the period. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Performance

Shares of SBCF stock opened at $26.13 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. Seacoast Banking Co. of Florida has a fifty-two week low of $19.04 and a fifty-two week high of $29.98. The stock’s 50-day moving average is $26.80 and its two-hundred day moving average is $24.80. The firm has a market cap of $2.22 billion, a P/E ratio of 18.66 and a beta of 1.08.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. The company had revenue of $201.99 million for the quarter, compared to analyst estimates of $126.00 million. During the same period in the prior year, the firm posted $0.37 EPS. Analysts predict that Seacoast Banking Co. of Florida will post 1.43 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Friday, September 13th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is currently 51.43%.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.